The Pension Transitional Arrangement Directorate (PTAD), the agency responsible for managing the pensions of retirees under the old Defined Benefit Scheme (DBS) in Nigeria, recently held a meeting with representatives of various pension unions to address critical issues affecting the welfare of retirees. This meeting underscored PTAD’s commitment to open communication and collaboration with stakeholders in its quest to ensure the well-being of pensioners. The discussions focused on several key areas, including the innovative “I am Alive” confirmation solution, harmonization of pensions, computational discrepancies, and the highly anticipated payment of the N32,000 pension increment.
The meeting brought together representatives from several key pension unions, including the Association of Retired Police Officers of Nigeria (ARPON), the National Association of Retired Paramilitary Officers (NARPO), and the Nigerian Union of Pensioners (NUP), representing various sectoral units and parastatals. The presence of these diverse groups highlighted the wide-ranging impact of pension administration on retirees from different sectors of the Nigerian economy. AIG Paul Ochonu (Rtd.), the National President of ARPON, expressed his appreciation for PTAD’s implementation of the “I am Alive” confirmation solution. This technological advancement has simplified the process for retirees to confirm their status, eliminating previous challenges and providing a more convenient and accessible method for verification.
The discussions delved into the complexities of pension administration, addressing concerns surrounding the harmonization of pensions, a process aimed at ensuring fairness and equity in pension payments across different sectors and retirement timelines. The representatives also raised issues regarding back-end computations of pensions, which can sometimes lead to discrepancies and inaccuracies in the amounts received by retirees. These computational issues often stem from complexities in applying various factors, including length of service, salary scales, and other relevant variables. Resolution of these issues is crucial for ensuring that retirees receive their rightful entitlements accurately and promptly.
A significant portion of the discussion centered on the implementation of the N32,000 pension increment, a matter of considerable importance to pensioners. The Executive Secretary of PTAD, Tolulope Odunaiya, addressed the concerns regarding the delay in implementing this increment, attributing it to the pending release of funds within the 2025 budgetary provisions. This explanation provided clarity to the pensioners regarding the current status of the increment and reassured them of PTAD’s commitment to its implementation upon the release of the necessary funds.
The N32,000 pension increment holds significant implications for retirees under the DBS, representing a substantial improvement in their monthly income. Many of these retirees rely heavily on their pensions as their primary source of income, and the increment is expected to provide much-needed financial relief. The delay in implementation, while understandable given budgetary constraints, has understandably caused some anxiety among pensioners. PTAD’s proactive engagement with the pension unions and its commitment to transparency in addressing this issue are crucial for maintaining trust and confidence among retirees.
PTAD’s proactive communication regarding the pension increment extended beyond the meeting with union representatives. Earlier in the month, the agency released a statement reiterating its commitment to implementing the increment as soon as the allocated funds become available. This proactive approach to addressing concerns and keeping pensioners informed demonstrates PTAD’s dedication to transparency and responsiveness. The agency’s establishment in 2013 marked a significant step in streamlining the management of the old pension scheme, providing a dedicated body to address the specific needs and challenges faced by retirees under this scheme. PTAD’s ongoing efforts to engage with stakeholders, address systemic issues, and implement improvements like the “I am Alive” confirmation solution reflect its commitment to improving the welfare and financial security of pensioners in Nigeria.
